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What is the fee for personal representatives?

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Diane McDermott

Junior Member
What is the name of your state (only U.S. law)? New Mexico

In the state of New Mexico personal representatives can be paid for their work, and I believe there is a percentage amount of the value of the estate that a personal representative gets paid. If that is accurate, what is the percentage? If not, then how is the fee for the personal representative calculated? Thank you.
 


anteater

Senior Member
The New Mexico statutes provide:

45-3-719. Compensation for personal representatives.

A personal representative is entitled to reasonable compensation for his services. If a will provides for compensation of the personal representative and there is no contract with the decedent regarding compensation, he may renounce the provision before qualifying and be entitled to reasonable compensation. A personal representative also may renounce his right to all or any part of the compensation. A written renunciation of the fee may be filed with the court.
 

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